The IRS wants to know more about who owns what in partnerships

The US Treasury Department is proposing new rules for how partnerships report sales of certain ownership interests. This means the IRS will get more detailed information about who is selling what, and for how much, when these partnerships change hands.

The IRS has long struggled to track the true value and ownership of assets held within complex partnership structures. These proposed rules aim to close some of those information gaps. It means the agency can better identify taxable gains and losses, making it harder for some investors to avoid taxes through opaque transactions.